https://www.taxtmi.com/caselaws?id=172646 For deduction under section 80IB(10), the controlling inquiry is whether the assessee developed and built the housing project on its own account with dominant control and business risk; ownership of the land is not a mandatory statutory condition. On the facts, the development agreements showed that the assessees paid consideration, took possession, bore development costs and risks, obtained approvals through the landowners, and exercised effective control over the project. The arrangement was therefore not a true joint venture or a mere contract for construction on behalf of the landowners. The Tribunal also noted that the earlier Supreme Court decision on collaboration agreements did not lay down a universal rule excluding such deduction. en-us Fri, 06 Aug 2010 00:00:00 +0530 Wed, 26 Aug 2015 17:40:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172646 For deduction under section 80IB(10), the controlling inquiry is whether the assessee developed and built the housing project on its own account with dominant control and business risk; ownership of the land is not a mandatory statutory condition. On the facts, the development agreements showed that the assessees paid consideration, took possession, bore development costs and risks, obtained approvals through the landowners, and exercised effective control over the project. The arrangement was therefore not a true joint venture or a mere contract for construction on behalf of the landowners. The Tribunal also noted that the earlier Supreme Court decision on collaboration agreements did not lay down a universal rule excluding such deduction. Case-Laws Income Tax Fri, 06 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172646